If you believe a loved one has passed away and left behind an invalid Last Will and Testament, you may be able to issue a challenge to that document. You can, however, only issue a challenge if you are an heir-at-law or if you were a previous beneficiary, but have been removed from the current [...]
In 1999-2001 around thirty percent of nursing homes had faced at least one claim of elder abuse. Elder abuse is any act of neglect or physical, verbal, or financial abuse against an elderly person. This abuse may occur in a skilled nursing facility or even at home. What to Look For If you have an [...]
Leaving an inheritance for your family is a great way to ensure they will be financially secure after you pass away. If, however, your net worth is high and your estate will owe taxes, your family’s inheritance may be affected. In 2011, the federal estate tax rate is expected to be 55% for all assets [...]
If you or another family member has ever endured probate, you know that this court-supervised process can take a great deal of time and money. For a couple of extreme examples, I am currently involved in two probates that have both been open for over 5 years, and are only just now getting closed. While [...]
In the estate planning process you will probably cover the basics of estate planning: naming an executor, stating your final wishes and identifying beneficiaries to receive your estate. For some people, though, a basic estate plan is not enough. What if you want to leave more? Through legacy planning you can leave a financial heritage [...]
With a high divorce rate, blended families are a norm in American society. Such families include a variety of dynamics: step-children, half-siblings, unmarried couples with children and more. A basic estate plan may be enough to cover your blended family, but there are many advantages of advanced estate planning that may suit your family situation [...]
If you have a loved one with special needs, he or she is probably not far from your thoughts. Worrying about how such a family member will be cared for after you have passed away can be difficult. During the estate planning process, you can create a special needs plan for your loved one that [...]
If you decide to create an estate plan that goes beyond a basic Last Will and Testament, you may encounter Revocable and Irrevocable Trusts. Both types of Trusts are an essential part of Advanced Estate Planning. They each offer different benefits to help you tailor your plan to your needs. Revocable A Revocable Living Trust [...]
I had a friend who's parents were divorced. His father remarried and later died, leaving everything to his spouse. His mother also remarried, and when she died, she also left everything to her spouse. The step-parents' estate plans left everything to their own children. My friend was completely disinherited. If you have children from a [...]
Saving for retirement can help to ensure you have enough for your basic living expenses as well as any extras you desire. Knowing how much to stockpile may seem confusing, but it doesn’t have to be. Current Expenditures You can estimate your current yearly costs by calculating your monthly expenses and multiplying by twelve. For [...]
